Fianna Fail General Election Candidate in Dublin North West, Cllr Paul McAuliffe said the revised scheme will prove ineffective without an increase in affordable housing supply.
He said he is concerned that concerned that the scheme has a real possibility of "ramping up prices to the maximum €320,000 mortgage limit".
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"This is likely to leave many new, prospective home owners without options, while at the same time further inflating the property market," he said.
"The announcement has little or nothing to do with supplying more housing units.
"A great proportion of the social housing delivered this year has been provided for by empty private homes being bought by the State. This has effectively resulted in the State competing against its own young people desperately seeking to purchase an affordable home.
"In order for each of the four Dublin Local Authorities to deliver mixed income developments, a legislative basis for an affordable housing scheme must be immediately introduced.
"It must be specifically set in legislation so that Local Authorities can support builders and developers to deliver affordable housing across Dublin."
(CD/MH)
